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ING Netherlands ING Netherlands Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Feb 16 2021 About ING ING (an abbreviation of Internationale Nederlanden Groep) is a Netherlands based international financial services company and one of the world's largest savings banks. It was founded through a merger in 1991 of NMB Postbank Groep and the insurance business of Nationale-Nederlanden, which history dates back to 1845. ING's primary businesses are retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is active in over 40 countries. Website https://www.ing.com/Home.htm Headquarters Bijlmerdreef 106 1102 CT Amsterdam Netherlands CEO/chair Steven van Rijswijk CEO Supervisor De Nederlandsche Bank Annual report Annual report 2020 Ownership listed on Euronext Amsterdam & Euronext Brussels ING's shareholder structure can be accessed here. Complaints Individuals and communities who may be adversely affected by ING's finance can raise a complaint to the bank via email at and [email protected] or via post - see the bank’s complaints page. grievances Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance). Sustainability Voluntary initiatives ING has committed itself to the following voluntary standards: Klimaschutz-Selbstverpflichtung des Finanzsektors Carbon Disclosure Project Climate Statement Dutch Banking Association (NVB) Code Banken (Dutch Banking Code) Collective Commitment to Climate Action (CCCA) De Spitsbergen ambitie Dutch Banking Sector Agreement on International Responsible Business Conduct regarding Human Rights Equator Principles Extractive Industries Transparency Initiative Global Reporting Initiative Paris Agreement Capital Transition Assessment (PACTA) Poseidon Principles Principles for Responsible Banking (PRB) Principles for Responsible Investment (PRI) Responsible Ship Recycling Standards (RSRS) Science Based Targets Task Force on Climate-related Financial Disclosures Taskforce on Nature-related Financial Disclosures Thun Group on Human Rights UNEP Finance Initiative United Nations Global Compact Investment policies ING's web page on corporate social responsibility can be accessed here. Stance on Biodiversity Aug 20 2021 | ING Biodiversity policy Date listed represents date as accessed on website Aug 19 2021 | ING Financial Economic Crime Policy Date listed represents date as accessed on website Feb 15 2021 | ING Stance on climate Date listed represents date as accessed on website Feb 15 2021 | ING ING's Approach to the Modern Slavery Act Apr 22 2020 | ING Stance on human rights Date listed represents date as accessed on website Dec 19 2019 | ING Stance on deforestation Date listed represents date as accessed on website Dec 19 2019 | ING Stance on extractives industry Date listed represents date as accessed on website Dec 19 2019 | ING Stance on palm oil Date listed represents date as accessed on website Dec 19 2019 | ING Stance on animal welfare Date listed represents date as accessed on website Dec 19 2019 | ING Zero tolerance approach to bribery and corruption Date listed represents date as accessed on website Dec 19 2019 | ING Stance on energy Date listed represents date as accessed on website Dec 19 2019 | ING Know Your Customer and Anti Money Laundering measures Date listed represents date as accessed on website Dec 19 2019 | ING Environmental and Social Risk Framework Jul 1 2019 | ING ING Viewpoint Sustainable Finance Mar 31 2018 | ING Standpunt van de ING over de financiering van kernwapens Mar 29 2018 | ING Environmental Approach 2017 Dec 31 2017 | ING Supplier terms of engagement Nov 27 2014 | ING BankTrack campaigns and ING Human rights True leader BankTrack has assessed ING on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. ING is assessed as a Follower, with a total score of 5.5/12. Front runner Policy: 3/3 Due dilligence: 2/3 Reporting: 0.5/3 Remedy: 0/3 Follower For more details, see Banking with Principles? 2016 update. Laggard Equator Principles Implementation and reporting The Equator Principles require that adopting banks publicly report on the implementation of the principles. You can find the reporting requirements for EPFIs here. ING is reporting on the implementation here. Contact and complaints The Equator Principles currently lack a formal complaints mechanism. Should you have any concerns or complaints about how the Equator Principles are being applied in a specific project in which ING is also involved, please get in touch with our Equator Principles team. You may also want to directly contact the department of ING that is responsible for the Equator Principles (keep us informed): 14 Equator Principles Dodgy Deals BankTrack is monitoring the following Equator Principles projects that are co-financed by ING -note that some files may be on record, no longer updated-: Projects Cirebon 2 coal power plant Indonesia Coal Electric Power Generation active Compagnie des Bauxites de Guinée (CBG) Guinea Mining active Trans Adriatic Pipeline (TAP) - international - Oil and Gas Extraction | Pipeline Transportation of Natural Gas active Trans Mountain Pipeline Expansion project (TMEP) Canada Pipeline Transportation of Crude Oil active Baku-Tbilisi-Ceyhan oil pipeline Azerbaijan Pipeline Transportation of Crude Oil on record Camisea pipeline project Peru Pipeline Transportation of Natural Gas on record Kashagan oil project Kazakhstan Oil and Gas Extraction on record Nam Theun 2 dam Laos Hydroelectric Power Generation on record SOCAR Aegean Refinery Turkey Coal Electric Power Generation | Oil and Gas Extraction on record Good moves 2018 ING stops financing new coal power plant in Dominican Republic ING has stopped financing a new coal-fired power plant in the Dominican Republic, the bank informed the Dutch Fair Bank Guide today. The Fair Bank Guide welcomes ING's decision. The Fair Bank Guide, in collaboration with BankTrack and Greenpeace, has been calling ING for years to stop financing two new coal-fired plants,… 2017 Five European banks pressured not to tolerate corrupt practices at Dominican coal plant project Mired in a major international corruption scandal, the proposed Punta Catalina coal plant in the Dominican Republic became untouchable for Deutsche Bank, ING, Santander, Société Générale and Unicredit in 2017. As the gravity of the situation surrounding the project’s construction… ING raises the bar for coal finance restrictions, though more pushing still required In December ING set a new bar in the commercial banking sector for restricting finance to companies involved in coal power, setting 2025 as its target date for reducing its exposure to coal power to ‘close to zero’. Its new commitments, which cover both lending and underwriting, will have impacts… Six banks step away from Dakota Access Pipeline (DAPL) and backers In February 2017, ABN AMRO, ING, BayernLB and Nordea all announced they would step away from financing either the project or its backers. In March, ING became the first bank to sell its portion of a project loan supporting the pipeline. This was followed by DNB and by BNP Paribas selling… 2015 Barclays, ING, PNC pull back from Mountaintop Removal In 2015, US bank PNC, UK bank Barclays and Dutch bank ING all announced new commitments to cut finance for the controversial practice of mountaintop removal (MTR) coal mining. These banks join JPMorgan Chase, Wells Fargo, RBS, BNP Paribas, and UBS - banks that have already committed to cut ties… Climate breakthrough as string of banks dump coal financing In May, Bank of America and Crédit Agricole became the first major banks to announce plans to stop financing coal mining. These announcements marked a hugely significant win and a breakthrough moment in the fight to end financing for the coal industry. The second half of 2015, in the run-up to the… 2014 Thun Group of Banks agrees to consider remedy for victims of human rights abuse In 2013 the seven-strong Thun Group of Banks' produced a discussion paper on banks' responsibilities under new UN human rights guidelines. BankTrack's response to the paper highlighted that the banks had failed to address their responsibility to provide access to remedy to victims of human rights abuses. After… 2006 ING withdraws finance for Botnia paper mill in Uruguay The Center for Human Rights and Environment (CEDHA) in Argentina threw its support behind the ongoing campaign to stop the controversial Botnia paper mill in Uruguay and lodged the world's first ever Equator Principle compliance complaint against ING Group. ING subsequently withdrew its share in a US$480m finance… Related Dodgy Deals ING has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal. Projects Cirebon 2 coal power plant Indonesia active Coal Electric Power Generation Trans Adriatic Pipeline (TAP) - international - active Oil and Gas Extraction | Pipeline Transportation of Natural Gas Trans Mountain Pipeline Expansion project (TMEP) Canada active Pipeline Transportation of Crude Oil Compagnie des Bauxites de Guinée (CBG) Guinea active Mining Vaca Muerta Shale Basin Argentina active Oil and Gas Extraction | Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas Baku-Tbilisi-Ceyhan oil pipeline
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